Wirepoints’ Mark Glennon on AM560’s Morning Answer: Illinois Budget’s New Taxes Face Serious Constitutional Challenges
June 12, 2026
2 Comments
Audio and summary linked here.
-- Connecting the dots between our economy, government and business --
A mess of uncertainty and litigation is sure to follow.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
That’s a rather rosy scenario that some economists at the Becker Friedman institute don’t agree with. They believe that 40% of jobs lost will be permanent. At the current number of unemployed that means 16 million jobs aren’t coming back. That’s double all the jobs lost during the recession of 2008 – 2009. The only thing that will get Trump re-elected is that Biden is running against him. The economic bounce back Trump is hoping for is probably not going to happen and that won’t be good for his re-election chances.
https://finance.yahoo.com/news/major-reallocation-shock-from-coronavirus-will-see-42-of-lost-jobs-evaporate-172558520.html
This is a feature, not a bug, that both sides use politically. Democrats want the economy bad, and people not working, until election day so Biden will win; but Republicans know that when the bonus ends in July, they’ll return back in August and September, meaning that economic figures released in the weeks before the election will be fantastic. Right now my money is on the R’s with this one.